All Forum Posts by: Bryan Stocklas

Thanks for the response guys I will definitely keep that in mind Drew and Aj I will reach out to your brother. Thanks for the insight guys.

Hi everyone I am in the process of closing on my first out of state investment property in Urbana Illinois. As I am getting closer to closing I’m getting more worried about how I’m going to be able to manage the property from out of state. I’m curious if anyone in the area has any experience with some of the property managers in the area that will take on new investors that only have one property. Also I know that Urbana is stricter with landlord tenant laws and was wondering how others have dealt with this. 
Thanks everyone 

Hi guys I’m looking into the Indianapolis market and would like to connect with some investor friendly agents that have knowledge of the lay of the land. Looking to purchase buy and holds and see where it goes from there. Thanks 

Hi everyone I am looking to secure a line of credit against my personal house which will turn into a rental in a couple months. I was wondering if anyone could recommend a bank they have used which allows you to borrow 100% of your homes equity.

Thanks

@Mike Dymski

That’s great advice I appreciate you breaking that down for me. I will definitely factor all these into the equation.

Thank you

@Mike Dymski thank you and I agree with you completely, but in my situation where I have my wife and two kids (one being under a year) and two dogs I have to be very careful about how I take each deal since I do all the work myself while being the sole provider, and trying not to put the family through a lot of stress doing so. I just refinanced to lower my term for this property and was able to reduce my mortgage as well. My hopes are to build my capital while I jump from one property to the next with a usda loan and than refinancing out of it in a years time so I can use it again on the next to take advantage of the $0 down. But my thoughts are since I have decent equity in the property and it will cash flow well each month that it might be worth holding. I figured I can always pull a line of credit for future investments. Am I thinking about this all wrong? Thanks for the response!

@Basit Siddiqi I live at the Jersey shore between LBI and Seaside which was growing before COVID but since COVID I have seen an influx of people trying to move away from the masses. But the areas I would be looking for my next property is 30-40min west of the shore where you start getting properties that are spread apart more with a little more land but also saving on taxes. I just wasn’t sure if it’s better to trade populations for a little more cash flow. Thanks

@Lamont Chen

Thank you I will factor that in. Thanks for your response!

@Lamont Chen thank you I will look into that, and try to gauge the turnover for rentals in my next area. I just didn’t know if the little extra cash flow would be worth the risk for a possible vacant property. Thanks again!

I am currently living in my first house and in the middle of doing a rehab on the property to turn into a long term rental. I live near the Jersey shore in ocean county and was thinking about my next move. I was thinking about going in land a little more but was worried about buying a rental in a more rural area. Was wondering everyone’s thoughts about buying where there is less people/jobs, but since I could get a property for less and save on taxes would that balance out the risk? Has anyone found it any harder to keep/find tenants in a more rural area or does it usually balance itself out in the long run?